He puts the ‘can’ in cannabis products, finding a pot of gold at the end of a hazy rainbow.
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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Hey hey, what's outside of school friends, listeners community. This is critical about. Let's fire up the grill in today's episode, a business analysed, creates a budding side us all. He puts the cannon cannabis products, finding a pot of gold in the form of a failure.
Since, at the end of a hazy rainbow for those who are interested. A quick recap of previous episodes that have featured cannabis products, beginning with episode. Never eighty two
tender rights State- would Marijuana Guide skipping ahead to three thirty six cannabis cookies make a sweet, soothing side, hustle three, fifty four high times cartoonist creates creative cannabis accessories for thirty, four California moms get high and get well and five ten bring your own cannabis to this.
Four hundred and twenty friendly painting class is continues to be a rapidly expanding marketplace across the: U Dot S in lots of different states, although it is quasi legal and lots of different places, because it's still not legal in the federal system, but many states have made it legal, so lots of complications barrel,
a bit in the end. Also, recently,
legal in canada- and this I may tell you
the day has found a way to make money on the periphery of the industry, which is actually what several of those other episodes you're about as well. It's not people actually selling their wanna, but rather people who are getting creative with a Vince
education, or something else in the many ancillary markets that have fired up with the advancement of this industry to to say a quick.
Thank you to our sponsor. I appreciate them along the shore to be free and then let's talk up
Don't ever it a bit
performance analysed from Orlando Florida has always had a side project of his sleep, for as long as I can remember,
he's coming up with different ideas to make pocket money you
how to build websites from watching you to try to Peter for projects to test out ideas. They were slow burners at first.
But eventually they began to bring an additional income for him before he lost interest or the ideas became data with time. You knew that cannabis was a trend that was on the up and up, especially as more states legalised and stigma.
Usage lessened. However, he didn't have any interest in becoming a sort of cannabis itself was when he noticed a
earning hole in the online cannabis accessories market that he realized. It could become his next project and he would call this project relief, treats his goal was to create an online directory of cannabis.
Dick Sesar. He would either resell himself or just turn commissions from customer.
He referred to other merchants that way he wouldn't have to stop a full inventory products. Nobody need to be risk
honourable for sending anything out to customers simple enough right go. It actually is pretty simple, but that doesn't mean there aren't any potholes stone says it can be a challenge to choose which products to sell, especially in a diverse and discerning market. So he tries to choose something for everybody, the luxury but cheek item customer the fiscally aware customer the Annette
customer and the practical everyday customer is online shop. He features we'd grinders butter, making machines, CD, Earl, handheld, microscopes, humidity, controlled storage boxes and grow lights. Among other things, it's pretty comprehensive. As he says, my inventory possibilities are
Ethically limitless has almost no additional cost to appeal to his many demographics as possible. Still while his thought possible,
this might be limitless. Stone is pretty blunt about his challenges like advertising, for example the main social media platforms, including Facebook and Instagram
as well as networks like Google Adwords, don't allow for any cannabis related promotion. This is because, as mentioned, cannabis remain
federally illegal in the United States, even though its legal
many jurisdictions. This means that still has to rely on search engine optimization and putting out content through his own social media,
channels. He says that, although there is a lot of competition, he stands out because his content is always fresh, valuable and engaging in his products are attractive
growing aside. Hustle is pretty dope, but he admits it can be tough to balance his personal life is full time. Job and relief treats
Nevertheless, at the end of the day, it's worth it it's already bringing in an additional.
Welfare dollars a month in profits, approximately a quarter of the income from his full time job. His next big movies,
RO. His sign us all into a flowering business. He wants to expand his products lecture even more especially estates continue to legalise relief,
We might be a budding enterprise now, but he has high expectations
All right so equation, illegal market are used. That phrase earlier is one
There is a what say: a haze over the marketplace, no pun intended, at least in that case particular when it comes
cannabis still illegal under the federal system, even ass, it isn't,
play legalize legalised by states in cities, different jurisdictions and so on, a lost into vary from place to place, which is why confusing
and whenever there is demand combined with confusion, which is exactly what you're saying this market. There are a ton of opportunities for people to kind of car, about a space for them
Again he's not selling the marijuana cannabis. Everything that he selling is legal, actually legal, very much everywhere these able to do this through careful products election
This is also why the reselling or the affiliate model works well, because, even when it comes to various like drug accessories, so those things can be illegal in different places, which is why it's better to let the bigger companies.
Figured I'd start out? A lot of what he's doing on the recently signed is linking out to Amazon. Now, Amazon Doc
I'm not gonna, sell anything, that's illegal! So he's a sense.
Letting them and some specialised companies your hand all that gonna stop, including, of course, the shipping, the distribution and he's focusing on building traffic to your site, adding new products in writing copy it reviews of that kind of stuff. So that's a good news with the downside for something like this. What does not
hundred outside, because it doesn't cost a lot to build something like this, but I would say one downside is customer attention because most of the time you're just referring someone once ensure they may come
ask your website to buy something else, but chances are if you have referred them to another company to buy their Cbd oil or whatever it is they're going to just go back to that company they're not going to keep coming back to you,
Lifetime customer value can be pretty low unless you have something to offset that some kind of loyalty program or some other reason why people should go back to your reciting, your affiliate site, instead of just going directly to that
your company, but anyway, so far so good. It sounds like it's working for him. As I said, if your interested in that market, there are several other episodes that we have featured in the two years of satisfy schools
Far are you can always find any episode that I mentioned by number by just going to satisfy school dot, com, slash and then thought about number, so, for example, this is episode six. Eighty six, if you'd like to see our show notes, were today just go to satisfy school dotcom, slash, six,
eight six! That's it for may be sure you do one thing today to get closer to our goal that you believe then I'll be back again.
With a weekly recap in a whole. New set of stories are next week. My name is critical,
and this is site hustle school.
Transcript generated on 2020-04-28.